A Sharper Slide

摘要

The market continued on its downward path this week, but more sharply than in recent weeks, with NIW’s Uranium Price Panel assessing the average spot price at $23.34 per pound of U3O8 for Thursday, Sep. 29. That is a decline of $1.10/lb from last week and marks the sharpest drop in the average assessment since June, when the price dropped from $28.20/lb to $26.91/lb during an upand- down period. Market sources attributed the slide to the approach of a Friday that also is the last day of the month. Month’s-end and now, apparently, Fridays are often the benchmark dates for offtake agreements and contract deliveries. In recent months, market participants have repeatedly referred to what they say is a frequent practice by traders of selling material just ahead of those dates as a way to lower the price (NIW Sep.2’16; NIW Jul.1’16).